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HOUSE  OF  REPRESENTATIVES,  February  18,  1865- 

MR.  FOSTIirS  AMENDMENT 

To  Bill  to  fund  the  currency. 

1  Secion  1.  That  all  treasury  notes,  not  bearing  interest,  issued 

2  prior  to  the  first  day  of  February,  1863,  if  not  funded  prior  to 

3  the  first  day  of  August,  1863,  shall  not  afterwards  be  fundable 

4  at  the  pleasure  of  the  holder,  and  all  call  certificates  which  are 

5  convertible  into  treasury  notes  fundable  in  bonds  bearing  eight 

6  per  cent,  interest,  shall  not  be  convertible  into  such  notes  after  tbe 

7  first  day  of  May,  1863,  but  after  that  time  may  be  converted 

8  into  notes  fundable  in  seven  per  cent,  bonds  until  the  first  day 

9  of  August,  1863.     But  after  the  day  last  aforesaid,  if  not  pre- 

10  viously  reconverted   and  funded,  such  call   certificates  shall   l>e 

11  deemed   to  be  bonds   bearing  six  per  cent.,  payable  at  the  same 
13     period  and  exchangeable  for  a  bond  of  like  value. 

1  Sec.  2.  That  all  treasury  notes  that  have  been   issued  since 

2  the  first  day  of  February,  1863,  or  that  may  be  issued  hereafter 

3  by  authority  of  this  act,  shall  be  a  legal  tender;  and  the  guar- 

4  anty  of  such  of  the  Confederate   States  that  have  been  or  may 

5  hereafter  be  made,  shall  be,  in  the  first  place,  applied  to  the  trea- 


2 

6  Bury  notes  that  have  and  may  be  issued  subsequent  to  the  first 

7  day  of  February,  1863,  and  such  guarantees   shall   protect  the 

8  notes  issued  since  the  first  of  February,  1863,  to  the  exclusion 

9  of  all  other  treasury  notes. 

1  Sec.  3.  That  in  lieu  of  all  other  authority  to  issue  treasury 

2  notes  heretofore  granted  to   the  Secretary  of  the  Treasury,  he 

3  shall  be  authorized  to  issue  monthly,  during  the  present  war,  an 

4  amount  not  exceeding  fifty  millions'of  dollars  of  such  notes,  pay- 
6  able  six  months  after  the  ratification  of  peace  between  the  Con- 

6  federate   States  and  the  United   States.     They  shall  be  in  such 

7  form  and  in  such  denominations  as  the  Secretary  of  the  Treasury 

8  may  prescribe,  and  each  note  shall  specify  the  month  of  its  issue, 

9  and  the  authority  hereby  given  to  the  Secretary  of  the  Treasury 

10  to  issue  treasury  notes,  shall  cease  at  the  meeting  of  the  first 

1 1  Congress  after  the  ratification  of  peace  between  the  Conferderate 

1 2  States  and  the  United  States. 

1  Sec.  4.  Be  it  further  enacted,   That  all  treasury  notes  hereto- 

2  fore  issued,  or  that  may  be  hereafter  issued,  shall  be  receivable  in 

5  payment  of  all  public  dues,  except  in  payment  of  export  duties. 

1  ■■■  Sec.  5.  Be  it  further  enacted,  That  the  holder  of  treasury  notes, 

2  issued  after  the  first  day  of  February,  1863,  may  at  any  tim^ 
3.  within  twelve  months  from  the  time  of  their  issue,  convert  the 
4  same  into  Confederate  bonds,  bearing  interest  at  the  rate  of  sii 
5.  per  cent.,  which  bonds  shall  be  covered  by  the  guarantees  of  th6 


3 

6  several  States  in  the  same  manner  that  the  notes  given  for  such 

7  honds  were  guaranteed,  so  that  the  conversion  of  such  notes  into 

8  bonds  shall   not  impair  the  security  that  was  afforded  ^  the 

9  holder  by  such  guaranty. 

1  Sec.  6.  Be  it  further  enacted,  That  Congress  shall  have  the 

8  power  to  require  such  notes  to  be  funded  at  any  time  after  twelve 

3  months  from   the    issuance  of  such  notes  into   bonds,  bearing 

4  six  per  cent,  interest.     Such  bonds  to  be   in   such  form  as  the 

5  Secretary  of  the  Treasury  may  prescribe,  the  interest  payable 

6  semi-annually,  and  to  be  evinced  by  coupons  annexed,  and  so 

7  marked  and  identified  as  to  show  that  such  bonds  are  to  be  first 

8  secured  by  the  guaranty  of  the  several  States,  as  aforesaid. 

1  Sec,  7.  Be  it  further  enacted.  That  no  treasury  note  shall  here- 

2  after  be  issued,  bearing  interest,  and  all  laws  in  conflict  with  this 

3  act  are  hereby  repealed. 


